Wednesday, March 09, 2011

Bank Negara to explain illicit outflows soon

How long does Bank negara needs to reveal the extent of the illegal outflows which was disclosed by Principal Financial Integrity?If foreign parties can have access to those information which should in the first place be privy to Bank Negara then it certainly reflects very poorly on the competency of the central Bank. And to add salt to the wound the infantile excuse that they need time to collect the figures only further shows their inaptitude in managing the country's finance. This only implies that they were totally in the dark about the illicit outflows of funds because surely had they been aware there would not be any need for them to deny or substantiate the apparent leakages.

Its about time Bank Negara carry out a revamp by engaging professionals to man the Central Bank.The revamp can start with Zeti being given the boot. I think she is simply not equip to govern Bank Negara with due care and diligence.

No comments: